Earnings Roundup: Arch Coal, Xerox

Among the earnings stories for Friday, April 24, from AP Financial News:

ST. LOUIS (AP) — Arch Coal profits fell more than 60 percent in the first quarter with power demand from steelmakers and other manufacturers evaporating. The company warned Friday of a potentially "ugly, ugly year" and released guidance well below Wall Street expectations.

NEW YORK (AP) — Xerox Corp. met lowered expectations for first-quarter earnings Friday, but said slower spending on printing equipment and supplies continued to hurt sales, a trend the company projected to continue for at least the next few months.

WASHINGTON (AP) — Honeywell International Inc.'s quarterly profit dropped 38 percent as battered aircraft and automakers pulled back spending on the company's turbo chargers and jet electronics. Honeywell also cut its profit forecast, saying it underestimated the severity of the economic downturn.

WILMINGTON, Del. (AP) — Wilmington Trust Corp. said Friday its first-quarter profit fell 57 percent from a year ago, but the result beat Wall Street expectations and shares surged in morning trading.

HOUSTON (AP) — Schlumberger Ltd. said Friday its first-quarter earnings tumbled about 30 percent as oil and natural gas companies cut back on exploration and drilling, and it also forecast sluggish oil-patch activity for at least the rest of this year.